GOVERNMENT
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No. 86/2019/ND-CP
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Hanoi, November
14, 2019
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DECREE
PRESCRIBING
LEGAL CAPITAL OF CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES
Pursuant to the Law on Government Organization
dated June 19, 2015;
Pursuant to the Law on State Bank of Vietnam
dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated
June 16, 2010 and the Law on Amending and Supplementing certain Articles of the
Law on Credit Institutions dated November 20, 2017;
Upon the request of the Governor of the State
Bank of Vietnam;
The Government hereby promulgates the Decree on
legal capital of credit institutions and foreign bank branches.
Article 1. Scope and subjects
of application
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2. This Circular shall apply to the following
entities and persons:
a) Credit institutions;
b) Foreign bank branches;
c) Organizations and individuals involved in
establishment, operation and organization of credit institutions and foreign
bank branches.
Article 2. Levels of legal
capital
1. Commercial banks: 3,000 billion dong.
2. Policy banks: 5,000 billion dong.
3. Cooperative banks: 3,000 billion dong.
4. Foreign bank branches: 15 million U.S. dollars
(USD).
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6. Financial leasing companies: 150 billion dong.
7. Microfinance institutions: 05 billion dong.
8. People’s credit funds, each of which operates
within a commune or town (hereinafter referred to as commune): 0.5 billion
dong.
9. People’s credit funds, each of which operates
within a ward; people’s credit funds, each of which operates within an
inter-commune, commune-ward and inter-ward area: 01 billion dong.
Article 3. Transitional
provisions
1. Credit institutions (except people’s credit
funds) or foreign bank branches licensed before the entry into force of this
Decree must ensure that the minimum amount of their actually contributed or
allocated charter capital is at least equal to legal capital levels stated in
Article 2 herein from the effective date of this Decree.
2. Not later than June 30, 2021, people’s credit
funds licensed before the entry into force of this Decree shall be obliged to
take actions to ensure their charter capital and the actual value of their
charter capital are at least equal to levels of legal capital specified in
Article 2 herein.
Article 4. Entry into force
1. This Decree shall take effect from January 15,
2020.
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3. From the entry into force of this Decree,
regulations on the legal capital of credit institutions and foreign bank
branches which are laid down in the following instruments shall become defunct:
a) Government’s Decree No. 141/2006/ND-CP dated
November 22, 2006 on issuance of the Chart of legal capital levels of credit
institutions and Government’s Decree No. 10/2011/ND-CP dated January 26, 2011
on amendments and supplements to the Government’s Decree No. 141/2006/ND-CP
dated November 22, 2006 on issuance of the Chart of legal capital levels of
credit institutions;
b) Article 3 in the Government’s Decree No.
28/2005/ND-CP dated March 9, 2005 regarding organization and operation of
small-sized credit institutions in Vietnam which is amended or supplemented in
clause 2 of Article 1 in the Government's Decree No. 165/2007/ND-CP dated
November 15, 2007 on amendments, supplements to or replacement of several
articles of the Government’s Decree No. 28/2005/ND-CP dated March 9, 2005 on
organization and operation of small-sized credit institutions in Vietnam.
Article 5. Implementation
responsibilities
Governor of the State Bank of Vietnam, Ministers,
Heads of Ministry-level agencies, Heads of Governmental bodies, Chairpersons of
People’s Committees of centrally-affiliated cities and provinces shall be
responsible for implementing this Decree./.
PP. GOVERNMENT
PRIME MINISTER
Nguyen Xuan Phuc
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